Courts Service’s continued shares in tobacco described as “farcical”

The holdings relate specifically to the investment of Court Funds, held by the courts on behalf of wards of courts and others.

Court Funds increased from €1.676 billion to €1.842 billion, the latest annual report reveals.

It was revealed by TheJournal.ie last year that the Courts Service had about €6m in stocks in tobacco companies in 2016.

The following year the Seanad passed a motion calling for an end to the investment in the industry by the service.

But a letter from July 2017 from Justice Peter Kelly, President of the High Court, reveals it may not be possible for the service to completely divest such shares.

He said: “It may not be possible to exclude tobacco stocks from the current fund or index as there are other investors involved whose agreement would be required to change the investment strategy.”

Fianna Fáil Senator Keith Swanick and TD Sean Fleming described the continued investment as flying in the face of the Government’s Tobacco Free Ireland policy.

Speaking to the TheJournal.ie, Mr Swanick said he while he welcomed the reduction, the situation as it stands is “farcical”.

“I welcome the reduction of holdings in tobacco by the Courts Service, this is progress. However any investment whatsoever, regardless of how nominal it is, is not acceptable.

“The Department of Health published a Tobacco Free Ireland plan in October 2013 with the aim of making Ireland a ‘tobacco-free’ nation by 2025. For a state agency under the remit of the Department of Justice to facilitate the investment of monies in tobacco is nonsensical.”

He added: “I have published the Courts Service (Amendment) Bill 2017 to prohibit investment by the Courts Service in tobacco-related companies. This Bill is unnecessary and cumbersome as it is within the gift of the government to bring an end to this farcical situation.”